Two New Ones

Two national associations were formed in early May. The Hard Fibers Association, organized by leading hemp and sisal importers and brokers, will keep its 20 members in con-. stant touch with foreign trade conditions, and will assist in developing new uses for these fibers. (133 W. 21st St., New York, N. Y.; R. S. Carraway, Secretary.)

The National Horse Carriers Association plans to set up a tariff bureau and publish a national schedule of rates similar to the tariffs published by the motor truck firms in the household goods carriers field. The NHCA will also endeavor to have greater uniformity of state laws pertaining to special types of motor trucks needed for transporting valuable horses. (301 W. Main St., Louisville, Ky.; H. C. Kelting, Executive Secretary.)

Furs

applicant is conducting a peace-time business, the uncertainty of the future requires a little more care... Every credit executive knows that war means sacrifice and that the production of luxury and semi-luxury goods, as well as the consumption of these goods, will have to be curtailed if we are going to emerge from the present defense program with a reasonably sound economy."

The NACM, with a headquarters staff of about 100, now has 20,000 members, largely composed of manufacturers and banks. Each of its 115 locals has a staff of a number of person's maintaining current credit information on thousands of firms in its area. (1 Park Ave., . New York, N. Y.; Henry H. Heimann, Executive Secretary.)

- The promotion of the greater use of South American furs will be one of its foremost services in 1941, according to the Associated Fur Coat and Trimming Manufacturers Inc. Its technical and style surveys have disclosed that many fur products in Latin America are well suited to the industry's needs. This association was formed in 1911 and has a staff of more than 25 persons. It provides services to its 800 members in such fields. as arbitration, sales promotion, employee relations, and credit information. (224 W. 30th St., New York, N. Y.; J. George Greenberg, Manager.)

Credit

In a special letter to members, the National Association of Credit Men states, "Credit executives can liberalize credit for the short term as regards those applicants who are working on essentials for the defense program. Credit for the longer term will be more carefully appraised. If the long-term credit

Transportation

Among the problems to be discussed at the annual meeting of the Texas Motor Transportation Association are recent regulations of the Office of Production Management, Interstate Commerce Commission, and the Wage and Hour Division of the Labor Department; the insuring of an adequate number of trained truck repairmen and truck drivers (many trained workers are being enlisted in the Army and Navy); latest store-door delivery practices; and recent Court rulings on interstate and intrastate operations. (101 E. 10th St., Austin, Tex.; L. B. Shaw, Manager.)

Machine Tool Builders

Faced with great public interest in its industry and a frequent misunderstanding of its product, the National Machine Tool Builders Association issued, in May, an illustrated booklet, "Machine Tools," in which it is stated in part:

"Machine tools are the machines that use cutting tools to form pieces of metal to desired sizes and shapes. There are hundreds of: different types. Some are small-bench size

units. Others weigh 50 tons or more and stand as high as a three-story house. The new Garand rifle is three times as fast as the old Springfield. It is made of 72 metal parts and requires no less than 1,040 separate cutting operations on machine tools."

This association is known for its statistical studies and its attempts to lessen the extreme depressions and booms in this key industry. It has a staff of 20 persons. (10525 Carnegie Ave., Cleveland, Ohio; Tell Berna, General Manager.)

Cocoa Prices

Representatives of the New York Cocoa Exchange have agreed at a meeting with officials of the Office of Price Administration and Civilian Supply to take up with directors of the Exchange measures for the reduction of

speculative activity responsible in part for recent rises in cocoa prices.

These measures will include shortening trading hours, modification of present practices in solicitation of customers and revision of market letters issued by members of the Exchange.

Public Laws 50, 51, 52, 53, 54, and 57 (77th Congress), relate to the construction of bridges across navigable rivers at Connelton, Ird.; Clees Ferry, Tenn.; Duluth, Minn.; Superior, Wis.; Harrisburg, Pa.; Middletown, Pa.; and Lowellville, Ohio, while No. 55 requires separated grade crossing of streets and railways in the District of Columbia. No. 56 authorizes the grant of easements over public lands to States. No. 66 relates to construction of Governor's Island, New York.

Public Law 58 exempts foreign consular officials from internal-revenue taxes on effects imported for their own use. No. 62 authorizes carrying to the surplus fund of the Treasury balances now standing to the credit of certain trust funds, derived from processing taxes collected.

Public Law 59 permits the Federal Security Agency to adopt a seal, etc.

Public Laws 60, 61, 63, 64 and 65 relate to the District of Columbia, of which No. 60 amends the Motor Vehicle Financial Responsibility Act. Public Laws 67, 68, and 69 relate to the Army, Navy and Foreign Service, respectively.

CONGRESS

The Senate passed and sent to conference H. R. 4466, to authorize the acquisition by the United States of title to or use of domestic and foreign vessels for urgent needs of commerce and national defense.

The Senate passed S. 158, 588 and S. 1300 relating to agriculture.

H. R. 4534, to extend power to establish priorities and allocate materials was reported by the Senate Committee on Military Affairs (Rept. No. 309), and passed.

S. 1537 is a bill to prevent shortages in transportation occasioned by national defense (Committee on Commerce).

S. 1540 extends the time for the exercise of the powers relating to the stabilization fund and the alteration of the weight of the dollar. A companion bill, H. R. 4646, was reported in the House (Rept. No. 472, and see Rept. No. 600 on H. Res. 211.)

H. R. 4825 relates to exports of petroleum (See also H. J. Res. 189 and H. Con. Res. 37). The House passed H. R. 4632 authorizing vessels of Canadian registry to transport iron ore on the Great Lakes during 1941.

H. R. 4700, to provide for priorities in transportation by merchant vessels, was passed by the House (Rept. No. 542 on H. Res. 206). A companion bill, S. 1536, was introduced in the Senate.

A new priorities plan for speeding defense production, designed to give specified manufacturers of "off-the-shelf" supplies a preference rating for the acquisition of scarce materials entering into defense work, has been announced.

The new method is known as the Defense Supplies Rating Plan.

Manufacturers who are granted the use of the plan will estimate the proportion of their total production which goes into identifiable defense channels and then will be given an A-10 rating for scarce supplies they must have to meet that defense demand for their products.

Thus a plant which is engaged 60 percent in defense and 40 percent in nondefense work may get an A-10 rating which will apply to deliveries of scarce materials flowing into its defense orders.

A Move Against Inflation

In response to requests for cooperation made by Leon Henderson, Administrator, Office of Price Administration and Civilian Supply, each of nine leading producers in the kraft paper industry have stated their policy is not to increase their present prices on standard grades of kraft wrapping paper during the balance of the year.

Combed Cotton

A schedule of price ceilings covering various grades of combed cotton yarn will be imposed within a few days.

As a result of a conference between Mr. Henderson and representatives of the industry on May 1 it was hoped that the speculative price situation in this industry might be im

proved without further measures. Such improvement has not taken place.

The "ceiling" will be based on a price of 40 cents per pound for 30s single ply yarn with a possible adjustment not exceeding 2 cents to allow for recent advances in raw material costs. Such yarn is now selling for around. 52 cents a pound. Ceilings for other grades will be established in relation to this base.

Pepper Futures

An increase in the margin required to operate in pepper futures on the New York Produce Exchange from $350 per contract to $1,000 per contract has been proposed by the Office of Price Administration and Civilian Supply at a conference with Exchange representatives.

Purpose of the proposed increase in margin requirements is to cut down excessive speculative activity in this market, which is believed responsible for much of the recent increase in pepper futures prices. The new margin requirements will be retroactive after a 10-day grace period on existing contracts and would apply to all new contracts.

Aircraft Observers

Civilian volunteers for aircraft observation duties with the General Headquarters Air Force are to be organized by the State and local defense councils in time to begin operations in the Atlantic and Pacific coastal areas not later than June 15. Other areas of the nation-wide aircraft warning service will be organized shortly thereafter.

Steps to be taken by defense councils in registering volunteers and manning observation posts, filter centers, and information centers are outlined in Aircraft Warning Series Bulletin No. 1, issued by the Division of State and Local Cooperation.